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Savings made simple.

Boost your savings with flexibility and security.

We understand the importance of growing your savings while maintaining easy access to your funds. Our money market accounts offer the perfect balance of higher interest rates, flexibility, and security, making them an ideal solution.

 

Alerus Money Market

Ideal for savers looking for a higher return. Take advantage of better rates than traditional savings accounts without locking up your funds.

  • $1,000 minimum balance
  • $50 minimum opening deposit
  • Tiered interest earning
  • Alerus debit card
  • My Alerus and mobile app

Frequently Asked Questions

What are the benefits of a money market account compared to a regular savings account?

A money market account offers several advantages over a regular savings account. Generally, money market accounts provide a higher interest rate, which can help your savings grow faster.

Are there any limitations on transactions with a money market account?

Yes. To avoid a $5 fee per monthly service cycle, you may not exceed a combined total of 8 withdrawals or transfers using methods such as: debit card transactions, checks or electronic payments (such as bill pay) to a third party, overdraft protection transfers, or transfers to an account at another institution.

What is the interest rate for a money market account, and how is it calculated?

The interest rate for a money market is generally higher than that of a regular savings account and typically tiered based on the account balance. Interest is calculated daily based on the account balance and is credited to your account on a monthly basis. Current interest rates for money market accounts can be found on our rates page or by speaking with one of our team members.

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